PanTheryx making fundraising progress

BOULDER – Biotech PanTheryx Inc. is nearing the halfway mark in its effort to raise $10 million through equity investments, according to a regulatory filing with the Securities and Exchange Commission.

Boulder-based PanTheryx, headed by president and chief executive Mark Braman, is working on medical nutrition products, including a treatment for children with infectious diarrhea that has shown in clinical trials to be safe and effective in replenishing nutrients lost during a bout with the disease.

Braman was traveling Thursday and not available for comment.

PanTheryx has raised $4.4 million in this, its second round of fundraising.

PanTheryx reported it had raised $1.4 million of its goal in May of last year. The company in August 2012 raised $3.5 million in a separate funding round, according to a previous SEC filing.

The company also is working on foods as dietary supplements to help healthy people maintain intestinal health, and medical foods for dietary management that would be used under medical supervision.

Diarrhea, the company said, is a life-threatening global health concern, representing 11 percent of child deaths worldwide, second only to pneumonia. The World Health Organization estimates that worldwide there are 1.7 billion infectious diarrhea cases annually among children under age 5. Nearly one million children die each year from diarrhea complications, killing more children than AIDS, malaria and measles combined.

In addition to Braman, Scott Hyman and George Stagnitti are listed as executive officers of the company. Tom Washing and David Cook are listed as company directors. Washing is a partner at Sequel Venture Partners LLC, a venture capital firm in Boulder. Cook is a retired lawyer from the local office of Faegre Baker Daniels LLP. He received the Esprit Entrepreneur Lifetime Achievement Award from the Boulder Chamber in 2005.

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